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United States Army
Personal Financial Management
Bldg. 225 Davis Street
Fort Buchanan Puerto Rico 00934
Resources are available to help you understand and manage your finances, including one-on-one financial counseling to assist you and your family with financial readiness. Services are designed to focus on money management issues throughout your active-duty lifecycle and into retirement. Financial readiness educational opportunities range from basic planning to long-term investing. Check out the information below to see what’s available at your installation.
This is a loan and you will pay the money back. Advanced pay repayment will be automatically withdrawn from your monthly pay.
Prices in Puerto Rico are slightly higher than in most continental states because of the cost of importing goods. Local produce, meats, and bakery products are similar in price to those in the mainland. There is no sales tax in PR. Quality standards are the same since the US Dept of Agriculture oversees and approves products sold in stores.
The cost of housing compares with many larger cities in the east coast. If you are willing to travel over 20 miles you might find lower housing costs. Government liability car insurance is now mandatory in P.R. The cost is $99.00 per year covering $3,000 in property damage. The cost of commercial vehicle insurance is more expensive than most states.
Soldiers and some DOD civilians who assigned to Puerto Rico are entitled to a 11.5% COLA. (Military rates vary from civilian).
Please be aware that at the present time there is no laundromat in Ft Buchanan. The local economy can be used for such purposes until your household goods arrive.
Be prepared to arrange for a rental car while waiting for your POV. Mass transportation in PR is not available everywhere and would take a long time to move from one place to another. Inside the installation a bicycle would be sufficient.
Assistance will be provided as a noninterest bearing loan, a grant (when appropriate), or a combination of loan and grant. Types of emergencies covered are: nonreceipt of or loss of funds; medical, dental and hospital expenses; funeral expenses for immediate Family Members; travel expenses related to emergencies; rent, food, utilities, vehicle insurance, and unexpected vehicle repair and emergency leave.
Active duty Soldiers, single or married, and their Family Member. Army national Guard and Army Reserve Soldiers on continuous active duty for more than 30 days and their Family Member (Title 10, USC). Soldiers retired from active duty for longevity or physical disability, and their Family Members. Army National Guard and Army Reserve Soldiers who retired at age 60, and their Family Members. Surviving spouses and orphans of Soldiers who died while on active duty or after they retired.
The purpose of Temporary Lodging Allowances (TLA) is to partially reimburse a member for:
The more than normal expenses incurred while occupying temporary lodgings and expenses for meals obtained as a direct result of using temporary lodgings OCONUS that don't have facilities for preparing and consuming meals.
Upon initial arrival (reporting) at an OCONUS PDS (includes reporting for TDY at an activity within the new OCONUS PDS limits for Government quarters assignment, or while completing arrangements for other permanent living accommodations when Government quarters are not available; A number of days deemed sufficient, but ordinarily, not more than 30 days (Fort Buchanan).
Moving can be very costly for military families despite all the financial entitlements. It is highly recommended that you make an appointment with a financial counselor at your Army Community Service before the move. Your installation Finance and Accounting Office can also provide you with detailed information on your financial entitlements associated with the move. The Army Emergency Relief (AER) program can assist soldiers and family members with bona fide financial emergencies.
The Financial Readiness Program is an Army command program, not just an ACS core program. As with the Volunteer Program, the command administers the program and the ACS plays a major role in delivering and supporting it. Financial assistance activities comprise financial education, training and information, counseling and referral. The scope of each component extends to long-range personal development, taking a proactive approach. That is the goal - to help Army personnel and their families understand their finances and develop a basic money management tool that will be useful throughout their lives.
Financial education connects closely with other ACS programs, because financial distress can affect a person or family's ability to cope with all areas of life. For example, the already difficult transition to a new location (RAP, TAMP, Cultural adjustment) would be further complicated by additional strains caused by financial difficulties (loss of supplemental income, bad credit, lack of cash flow).